How to Access Opay Loan (Okash Loan) - Everything You Need to Know
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How to Access Opay Loan (Okash Loan) – Everything You Need to Know

Borrowing money in Nigeria is easy, thanks to the rise of online lenders in recent years. These companies, such as Opay Loan provide quick and short-term loans to their customers without asking for collateral. Currently, you can easily access Nigerian student loans, payday loans, and so on.

Everything about Opay

Founded by internet giant Opera, OPay is a mobile platform that offers essential services such as payments, commercial transportation services, food, and grocery delivery.

OPay stands for Opera Pay. It is a comprehensive online payment platform that allows you to perform a range of transactions. They include buying airtime, buying data, subscribing to pay-TV, paying electricity bills, calling a passenger with OCar and OTRIke, delivering food with OFood, transferring money, sending and receiving payments with QR, investing with OWealth , lending services with OKash, financing your gambling account, listing your products and services at OList and building an online presence with OLeads.

Opay Loan App Review (Okash Loan)

Okash Loan is a Nigerian loan application from OPay group. With this platform, you can get a loan in Nigeria anytime in minutes.

Advantages

  • Fast and secure loan payment processing
  • No Collateral and Deposit Requirements.
  • Simple Application Process
  • They offer incentives as bonuses from time to time.
  • You can do the whole process online on your mobile phone. You do not need to make a physical visit.

Disadvantages

  • Privacy Issues
  • The cost of repaying the loan is high. There are other cheaper options
  • Loans are for short term
  • There is a maximum amount that can be borrowed.

How to borrow money from Opay

The first step is to download the Opay loan mobile app. Open Okash loan account and fill in the necessary details; takes less than five minutes to complete registration. You will be given a call or text option for verification.

Apply for a loan in the app, read the General Terms and Conditions and pay attention to the interest and payment date. If you agree with the above points, confirm your loan application and you will receive the money within minutes.

The maximum or minimum amount you can borrow

The maximum amount you can request on OKash at any time is N50,000. You can apply for loans from N3000.

How to Access Opay Loan (Okash Loan) - Everything You Need to Know

Opay Loan Requirement (Okash Loan)

The requirement to apply for an OPay loan is simple. The loan service is aimed at all Nigerians and does not have any strict conditions that the average Nigerian cannot borrow.

  • Applicant must be a Nigerian Resident
  • Applicant’s age group must be between 20 and 55 years old.
  • The applicant must have a source of monthly income or state the reason why he wants the loan.
  • Valid ID card
  • BVN number (see how to verify BVN)

Opay loan interest (Okash loan)

The daily interest is between 0.1% and 1% while the annual interest is between 36.5% and 360%. You also have to pay an origination fee with your loan that ranges from N1299 to N6000. The term of the loan is 91 days for the shortest term and 365 days for the longest term.

How to repay the Opay Loan (Okash Loan)

  • Open your mobile app
  • Log in to your account
  • Click on the button that says “refund”
  • Provide all necessary details
  • Click on the “Refund” button

It is important to note that the platform uses a system that automatically debits your bank account as soon as your loan is due. This means that you don’t really need to follow the steps above as long as you have sufficient funds in your account.

Opay loan USSD code

The Opay USSD code is *955#. This works if you have already created an account on the platform. The code provides a seamless experience when transacting on your account.

Conclusion

OKash – a subsidiary of OPay it is a trusted loan provider offering quick loans in Nigeria. Applying for a loan in the app is easy. You will be deposited into your account within minutes.